Kofa Technologies Ltd. (“Kofa”), a Ghanaian company reengineering
energy access through clean and portable battery solutions, and PASH Global
(“PASH”), a leading impact investor, today announced the expansion of Kofa’s
battery swapping network in Ghana.
This Special Purpose Vehicle (SPV) expansion is backed by a £2.35
million commitment from Shell Foundation, co-funded with the UK Government
through its Transforming Energy Access (TEA) platform. Shell Foundation and TEA
are committing an additional £1.4 million to support Kofa's ebike asset
financing, research on the impact of Kofa’s multi-use battery technology, and
operating expenses.
This groundbreaking initiative aims to promote clean energy access
by providing cleaner backup power solutions that displace petrol generators,
reducing fumes and noise pollution in urban areas. The expanded battery network
will also reduce the reliance on petrol-powered motorcycles, contributing to
cleaner air and more sustainable urban environments. The project was officially
announced by Lord Collins of Highbury, Parliamentary Under-Secretary of State
(Africa) on the 17th of
September, marking a major milestone in Africa’s transition to clean energy.
Speaking at the event, Lord Collins said, “Today’s announcement demonstrates the UK’s continued commitment to
supporting clean energy initiatives across the world. This project not only
fosters economic growth, it also strengthens the UK’s partnership with Ghana,
contributing to a greener, more resilient future for Ghana. It’s a perfect
example showcasing how we go far when we go together.”
This innovative project, led by Kofa and PASH, aims to deliver
reliable, affordable, and clean energy for electric two-wheelers while also
supplying power to small businesses and homes that currently depend on small
petrol generators—helping to displace these generators and significantly reduce
reliance on fossil fuels.
Kofa will focus on their core business of battery network
management and support of the SPV operations. This involves infrastructure to
manage battery swapping for users - ensuring that customers can access fully
charged batteries at any time. PASH will play a crucial role supporting Kofa in
the operational maintenance, deployment and management of the battery swapping
stations.
The network is
targeting a deployment of 6,000 batteries and up to 100 swap stations across
Ghana, ensuring that energy is accessible anytime, anywhere, and promoting the
transition to clean energy and the large-scale adoption of EVs in Africa. This
multi-use, climate-resilient model is specifically designed for urban
environments and aims to achieve economies of scale by aggregating operators
and introducing interoperability, ultimately reducing costs, and enhancing
service reliability. PASH also intends, in due course, to transform these swap
stations to be fully powered by solar power, further increasing the impact of
the station.
Preliminary analysis indicates that electric motorcycles in Ghana
are already up to 20% cheaper to operate compared to internal combustion engine
(ICE) vehicles. As battery prices continue to decline, these savings are
expected to increase, further incentivising the shift to electric vehicles.
"The partnership between Kofa and PASH represents a powerful step forward in delivering sustainable energy solutions across Africa," said Kofi Owusu Bempah, Founder and CEO of PASH Global. "With the strong backing of Shell Foundation and the UK government, we are well positioned to lead the cahrge in the e-mobility revolution, beginning with this transformative project in Ghana."
“This initiative is a
significant step toward cleaner, more sustainable energy solutions in Ghana.
With the support of our partners, we are building a foundation that will not
only benefit local communities and businesses but also serve as a model for
clean energy innovation across Africa,” said Erik Nygard, CEO of Kofa Technologies
“Serving Transporters and Microentrepreneurs with clean energy
raises incomes while cutting emissions. This is critical to Shell Foundation’s
charitable mission. We are proud to partner with PASH to scale Kofa’s
technology, with co-funding through our long-term strategic relationship with
the UK Government. Collaborations such as these are vital in scaling e-mobility
and clean energy solutions in Africa and beyond to millions of customers,” said Jonathan Berman, CEO
at Shell Foundation.
